403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Hyundai Motor aims to boost global sales, EV offerings by 30 percent by 2030
(MENAFN) At its 2024 CEO Investor Day on Wednesday, Hyundai Motor announced ambitious targets for the coming years, aiming to significantly boost its global sales and electric vehicle (EV) offerings. The South Korean automaker is setting its sights on achieving annual global sales of 5.55 million units by 2030, marking a substantial 30 percent increase from its 2023 figures. Additionally, Hyundai plans to expand its presence in the electric vehicle market, with a goal to sell 2 million EVs per year globally by the same year.
To support these objectives, Hyundai is committed to broadening its EV lineup to include 21 models and expanding its hybrid offerings to a total of 14 models by 2030. This ambitious plan is part of Hyundai's broader strategy, referred to as the 'Hyundai Way,' which involves a substantial investment of 120.5 trillion won (approximately USD90.3 billion) through 2033. The funds will be directed towards the development of new battery technologies, advancements in autonomous driving capabilities, and other critical areas to support the company's growth.
Furthermore, Hyundai Motor Company has announced a significant stock buyback program, intending to repurchase up to 4 trillion won (around USD2.99 billion) worth of shares between 2025 and 2027. This move is part of a broader strategy to strengthen the company's market position and enhance shareholder value. Jaehoon Chang, President and CEO of Hyundai Motor Company, emphasized the company's ambition to become "a game changer" by expanding beyond traditional vehicle manufacturing. He highlighted Hyundai's commitment to evolving into a leader in the energy transition era, particularly through its initiatives in the hydrogen sector.
In 2023, Hyundai Motor Group solidified its status as one of the top three automakers globally, achieving an annual sales volume of 4.21 million units. The company's new targets and strategic investments are set to further cement its leadership position in the global automotive industry as it navigates the evolving landscape of vehicle manufacturing and energy solutions.
To support these objectives, Hyundai is committed to broadening its EV lineup to include 21 models and expanding its hybrid offerings to a total of 14 models by 2030. This ambitious plan is part of Hyundai's broader strategy, referred to as the 'Hyundai Way,' which involves a substantial investment of 120.5 trillion won (approximately USD90.3 billion) through 2033. The funds will be directed towards the development of new battery technologies, advancements in autonomous driving capabilities, and other critical areas to support the company's growth.
Furthermore, Hyundai Motor Company has announced a significant stock buyback program, intending to repurchase up to 4 trillion won (around USD2.99 billion) worth of shares between 2025 and 2027. This move is part of a broader strategy to strengthen the company's market position and enhance shareholder value. Jaehoon Chang, President and CEO of Hyundai Motor Company, emphasized the company's ambition to become "a game changer" by expanding beyond traditional vehicle manufacturing. He highlighted Hyundai's commitment to evolving into a leader in the energy transition era, particularly through its initiatives in the hydrogen sector.
In 2023, Hyundai Motor Group solidified its status as one of the top three automakers globally, achieving an annual sales volume of 4.21 million units. The company's new targets and strategic investments are set to further cement its leadership position in the global automotive industry as it navigates the evolving landscape of vehicle manufacturing and energy solutions.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Comments
No comment